The Catalan Government finally places €2.31 billion in retail bonds, exceeding the initial offer

Barcelona (ACN).- The deadline to ask for the Catalan Government’s retail bonds ended on Wednesday at noon. The Catalan Executive managed to sell €2.307 billion in one-year and two-year bonds, 12% more than the initial amount of bonds issued on April 2^nd. Initially, the Catalan Government put on the market €2.055 billion of retail bonds; however, considering the high demand for purchasing the bonds, it decided to increase the bond emission up to €2.3695 billion and extend the deadline by 24 hours. Finally, 97.4% of the definitive offer of retail bonds were bought. 102,269 demands were filed, according to the Directorate General for Financial Policy, Insurances and Treasure from the Catalan Government. Out of all the requests received, 66% asked for one-year bonds and the remaining 34% for two-year bonds. One-year bonds were offered with an interest rate of 4.5% and the two-year ones with an annual 5% interest rate.

The money from the bonds will arrive to the Catalan Government on May 2^nd. That day also coincides with the liquidation date of a previous bond emission made from April 2011, when €2.234 billion were placed. The expiration date of the retail bonds bought in 2012 will be April 29^th 2013, fro the one-year bonds, and April 29^th 2014, for the two-year bonds.